Pakistan and Iran have reaffirmed their commitment to increasing bilateral trade to $10 billion and expanding cooperation in trade, investment and the private sector, said a communique issued after bilateral talks said on Tuesday. The commitment was reiterated during the 10th Pakistan-Iran Joint Trade Committee (JTC) meeting, co-chaired by Commerce Minister Jam Kamal Khan and Iranian Minister of Industry, Mine and Trade, Mohammad Atabak. Atabak described Pakistan as a long-term strategic trading partner and expressed Iran’s desire to expand trade and logistics cooperation through the ports of Karachi and Gwadar. The Iranian minister also voiced hope that a Pakistan-Iran Free Trade Agreement (FTA) would be concluded soon, saying electricity trade and regional connectivity offered new economic opportunities for both countries. Khan said transforming historic ties between the two countries into a strong economic partnership was the need of the hour. The commerce minister stressed the need to finalise the proposed FTA at the earliest opportunity, adding that barriers affecting border logistics, customs procedures and cargo movement must be removed to facilitate bilateral trade. The commerce minister said the establishment of joint border markets and the adoption of electronic data interchange systems would significantly boost trade between the two countries. He added that the private sectors of Pakistan and Iran were ready to expand commercial ties, while governments must provide a favourable and reliable business environment. Khan expressed confidence that the meeting would produce a practical roadmap capable of taking bilateral economic cooperation to new heights and unlocking the full potential of Pakistan-Iran trade relations. An Iranian delegation, led by Minister Atabak, arrived in Islamabad on Monday night for a two-day visit to participate in the 10th JTC meeting and hold talks with senior Pakistani officials on bilateral trade relations. The delegation comprised 22 Iranian officials and a 16-member business contingent led by the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). The business representatives came from key sectors including food, agribusiness, logistics, shipping, transportation, energy and manufacturing, aiming to promote greater private-sector engagement and strengthen commercial cooperation between the two countries.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan and Iran have reaffirmed their commitment to increasing bilateral trade to $10 billion and expanding cooperation in trade, investment and the private sector, said…<\/p>\n","protected":false},"author":1,"featured_media":32970,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8],"tags":[],"class_list":["post-32969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/32969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32969"}],"version-history":[{"count":0,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/32969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/media\/32970"}],"wp:attachment":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}